Fulton Financial Co. (NASDAQ:FULT) Holdings Lifted by Wells Fargo & Company MN

Wells Fargo & Company MN lifted its holdings in shares of Fulton Financial Co. (NASDAQ:FULT - Free Report) by 23.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 123,937 shares of the bank's stock after acquiring an additional 23,445 shares during the quarter. Wells Fargo & Company MN owned about 0.07% of Fulton Financial worth $2,390,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in shares of Fulton Financial by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 22,383,504 shares of the bank's stock valued at $431,554,000 after acquiring an additional 285,376 shares in the last quarter. Fisher Asset Management LLC lifted its holdings in Fulton Financial by 35.3% in the 4th quarter. Fisher Asset Management LLC now owns 2,582,036 shares of the bank's stock worth $49,782,000 after buying an additional 673,559 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Fulton Financial by 0.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,377,428 shares of the bank's stock worth $45,837,000 after purchasing an additional 19,329 shares during the last quarter. Norges Bank bought a new stake in shares of Fulton Financial in the 4th quarter worth about $38,010,000. Finally, JPMorgan Chase & Co. increased its position in shares of Fulton Financial by 137.3% in the 4th quarter. JPMorgan Chase & Co. now owns 1,322,616 shares of the bank's stock worth $25,500,000 after purchasing an additional 765,313 shares during the last quarter. Institutional investors and hedge funds own 72.02% of the company's stock.

Fulton Financial Price Performance

Shares of FULT traded down $0.47 during midday trading on Wednesday, reaching $16.47. The stock had a trading volume of 100,340 shares, compared to its average volume of 1,511,119. Fulton Financial Co. has a 52 week low of $14.33 and a 52 week high of $22.49. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.90 and a quick ratio of 0.90. The firm's 50 day moving average price is $17.42 and its 200-day moving average price is $19.15. The company has a market capitalization of $3.00 billion, a P/E ratio of 10.48 and a beta of 0.68.

Fulton Financial (NASDAQ:FULT - Get Free Report) last issued its earnings results on Tuesday, April 15th. The bank reported $0.52 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.44 by $0.08. The business had revenue of $322.64 million for the quarter, compared to analysts' expectations of $315.07 million. Fulton Financial had a return on equity of 11.41% and a net margin of 15.87%. During the same period in the previous year, the firm posted $0.40 EPS. On average, analysts forecast that Fulton Financial Co. will post 1.91 earnings per share for the current fiscal year.

Fulton Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st were issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 4.37%. The ex-dividend date of this dividend was Tuesday, April 1st. Fulton Financial's payout ratio is 42.35%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on FULT shares. Keefe, Bruyette & Woods lowered their price objective on shares of Fulton Financial from $24.00 to $21.00 and set a "market perform" rating for the company in a research report on Thursday, April 17th. StockNews.com raised shares of Fulton Financial from a "sell" rating to a "hold" rating in a research report on Thursday, January 23rd. Hovde Group boosted their price objective on shares of Fulton Financial from $22.00 to $22.50 and gave the company a "market perform" rating in a research report on Monday, January 27th. DA Davidson reaffirmed a "neutral" rating and set a $20.00 price objective on shares of Fulton Financial in a research report on Wednesday, April 16th. Finally, Piper Sandler lowered their price objective on shares of Fulton Financial from $22.00 to $20.00 and set a "neutral" rating for the company in a research report on Thursday, April 17th. Six equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $19.83.

Fulton Financial Company Profile

Fulton Financial Corporation operates as a financial holding company that provides consumer and commercial banking products and services in Pennsylvania, Delaware, Maryland, New Jersey, and Virginia. It accepts various checking accounts and savings deposit products, certificates of deposit, and individual retirement accounts.